Marketing in the Cannabis Industry

Did you know that Colorado voters approved medical marijuana laws in 2000 and also approved Amendment 64 to allow for recreational marijuana in 2012? As of January 2016 there were 424 recreational dispensaries, 1265 growers, and 370 edible manufacturers in Denver alone. Advertising for cannabis-related products or services is limited due to the Colorado Retail Marijuana Regulations. For example, television, radio and internet advertising are prohibited unless there is reliable evidence that no more than 30 percent of the audience is reasonably expected to be under the age of 21. This limits Cannabis company’s ability to have PPC advertising on AdWords, television or social media channels.

Other market industry trends include upcoming nation-wide elections for local and global marijuana and cannabis laws. In November 2016 Denver residents will vote on whether regular businesses like bars, cafes or yoga studios should be able to create indoor or outdoor areas to consume marijuana that their patrons would bring. In addition, 9 U.S. states will be voting in November on whether or not to legalize recreational or medical marijuana including California, Nevada, Arizona, Massachusetts, Maine, Florida, Arkansas, North Dakota and Montana. Currently 25 U.S. states allow for medical or recreational cannabis. Further, the legal marijuana market size in the United States is projected to grow to $7.1 billion in 2016, a 26% growth over the previous year.

I’ve recently taken a part-time job as a Brand Ambassador for Studio 420, a cannabis friendly creative agency in Denver specializing in branding, web design and digital marketing. I’ve had a chance to go to two educational cannabis industry networking events, Women Grow in Boulder and the CannaTech meet up in Denver.

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I’m really happy to be a part of a company that has an awesome mission and philosophy –

Studio 420’s mission is to “work closely with it’s clients to define and develop their identity, position and presence in their marketplace. We help clients achieve sustained growth through ideas, strategies and solutions that influence consumer taste and shape culture.” Their philosophy includes establishing credibility for clients in the cannabis industry and to raise standards in the entire market. They value a company culture that focuses on cultivation, growth and transparency by training their partners in their approach and processes.

And here is a slide I put together for my digital marketing communication class at DU this fall term, it really underlines some basic critical features of great web design and why it’s important to building and nurturing your relationships with your customers.

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References

Studio 420. 2016. “About Us.” and “Services.” Studio 420 A Cannabis Friendly Creative Agency. Last modified unknown. Accessed October 1, 2016. http://420digitalstudio.com/

The Cannabist. 2016. “Denver to vote on allowing social marijuana use in some businesses” Colorado News. Last modified 26 days ago. Accessed October 1, 2016. http://www.thecannabist.co/2016/09/01/denver-social-marijuana-use-initiative-qualifies-2016-ballot/62399/

Wikipedia. 2016. “Cannabis policy of Colorado.” Wiki. Last modified September 23, 2016. Accessed October 1, 2016. https://en.wikipedia.org/wiki/Cannabis_policy_of_Colorado

Leafly. 2016. “State-by-State Guide to Cannabis Advertising Regulations.” Industry News. Last modified unknown. Accessed October 1, 2016. https://www.leafly.com/news/industry/state-by-state-guide-to-cannabis-advertising-regulations/

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